Officials at Top Korean Cryptocurrency Exchange Upbit Indicted for Fraud

Officials at South Korea’s largest cryptocurrency exchange, Upbit, have been indicted for fraud. They allegedly made bogus crypto orders worth approximately $226 billion and sold 11,550 BTC to around 26,000 investors. Upbit has denied the charges and insisted that it did not commit fraud, engage in wash trades, or trade …

Hong Kong Regulator Announces New Plans for Cryptocurrency Industry

The Securities and Futures Commission of Hong Kong has announced new plans to regulate the cryptocurrency industry. The regulator issued two circulars on Thursday outlining new rules for crypto exchanges as well as crypto asset portfolio managers, intermediaries, and fund distributors. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space …

Norway Establishes New Rules for Crypto Service Providers

The Financial Supervisory Authority of Norway is enforcing new money laundering regulations that apply to crypto exchange and storage providers in the country. The law will go into effect on Oct. 15 and will affect companies established in Norway including branches of overseas companies. Also read: 160 Crypto Exchanges Seek to …

Japan’s GMO Launches Live Crypto Trading Platform, Adds Mining Facilities

Japanese internet giant GMO has launched a live crypto trading platform via its subsidiary GMO Coin. This is the company’s third crypto exchange and trading service. Meanwhile, the group has established more mining facilities and has mined almost 3,000 BTC and over 660 BCH so far. Also read: 160 Crypto Exchanges …

Korean Government: 11 out of 21 Crypto Exchanges Complete Security Measures

The South Korean government has announced the outcome of its inspection of 21 cryptocurrency exchanges. While a number of exchanges have completed implementing both short-term and wallet management measures, many security vulnerabilities remain at most exchanges. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space 21 Exchanges Inspected South Korea’s …

SEC Has No Jurisdiction to Look at Bitcoin for ETF Decision, Admits Commissioner

A commissioner of the U.S. Securities and Exchange Commission (SEC) has voiced her opinion that the agency overstepped its bounds to reject a bitcoin ETF recently based on the underlying asset, bitcoin. She believes that the role of the SEC is to consider the market for the ETF, not the …

Bithumb Resumes Deposit and Withdrawal Services – Upbit Reveals 127% Cash Reserves

South Korean exchange Bithumb has resumed deposit and withdrawal services for a number of cryptocurrencies after the recent hack. Another major Korean exchange, Upbit, has released an audit report showing more crypto and cash reserves than needed to pay customers. Meanwhile, all customer deposits at Korbit will now be held …

Flow and Cryptomkt Enable Crypto Payments at 5000+ Stores

Cryptocurrency exchange Cryptomkt has partnered with Chilean payment platform Flow to allow customers to pay with three cryptocurrencies at over 5,000 stores. The announcement follows two Chilean courts ruling that banks must reopen the accounts of crypto exchanges they previously closed. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space …

Over 500 BTC Belonging to Iranians Seized by US Government: Report

According to the head of Iran’s Blockchain Association, over 500 BTC belonging to Iranians were confiscated by the U.S. government last year, and the number is still rising. He explains that Iranians are unable to take action through proper channels from within their country due to Iran’s legal status of …

Crypto Exchange Coinrail Reopens with Offers to Recover 11 Cryptocurrencies

South Korean exchange Coinrail has resumed service after it was hacked last month. The exchange has offered users some options to recover their cryptocurrencies. Eleven cryptos were stolen, some of which have been fully recovered and are now available for trading and withdrawals. However, some coins were not recovered. Also …

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